Dr Reddy's Lab gains 2% on receiving EIR from USFDA
On BSE, 26,000 shares were traded on the counter so far as compared to the two-week average of 37,000 shares.
By ETMarkets.com | Updated:
NEW DELHI: Shares of Dr. Reddy's Laboratories (ADR) advanced 2 per cent in Wednesday’s trade on reports that its API manufacturing plant at Miryalaguda has received an Establishment Inspection Report (EIR) from the US Food and Drug Administration.
Following the development, the scrip rose 2.01 per cent to Rs 2,656.00 on BSE.
In a BSE filing, Dr Reddy’s said, “We have received an establishment inspection report (EIR) from the USFDA today (Tuesday) as closure of audit.”
For the quarter ended March 31, 2017, the pharma major reported a consolidated net profit of Rs 337.60 crore, up 175.37 per cent, against Rs 122.60 crore in the corresponding quarter last year.
Net sales of the company declined 5.38 per cent year-on-year (YoY) to Rs 3,554.20 crore. It had reported net sales of Rs 3,756.10 crore in the same period last year.
Shares of the company had hit their fresh 52-week high and 52-week low of Rs 3,689.00 and Rs 2,382.05 on July 20, 2016 and May 29, 2017, respectively.
On BSE, 26,000 shares were traded on the counter so far as compared to the two-week average of 37,000 shares.
Following the development, the scrip rose 2.01 per cent to Rs 2,656.00 on BSE.
In a BSE filing, Dr Reddy’s said, “We have received an establishment inspection report (EIR) from the USFDA today (Tuesday) as closure of audit.”
For the quarter ended March 31, 2017, the pharma major reported a consolidated net profit of Rs 337.60 crore, up 175.37 per cent, against Rs 122.60 crore in the corresponding quarter last year.
Net sales of the company declined 5.38 per cent year-on-year (YoY) to Rs 3,554.20 crore. It had reported net sales of Rs 3,756.10 crore in the same period last year.
Shares of the company had hit their fresh 52-week high and 52-week low of Rs 3,689.00 and Rs 2,382.05 on July 20, 2016 and May 29, 2017, respectively.
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On BSE, 26,000 shares were traded on the counter so far as compared to the two-week average of 37,000 shares.
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